wal management lack of disclosure, page-9

Redman,

I apologise you are correct.
According to page 43 of the AGM Proxy booklet.

WAl has to issue 7,400,000 shares to Terence Byrt Current value at $0.43 per shares is $1.182 Million and will therefore receives 7,400,000 shares in CLR currently $1.80 equals $13.320 Million benefit to WAL shareholders is $10.138 Million.

Considering WAL has 59,348,958 shares on issue plus 7,400,000 equals 66,748,958.

Therefore value per share equals $0.15 per share.

BUT currently WAL holds 10.4% of CLR at todays market cap of $177.8 Mil 10.4% equals $18.492 Million plus 7.4Million shares at $1.80 equals $13.320.
Therefore total value of CLR shares held by WAL in CLR is $31.812 Million divided by the number of CLR shares on issue 66,748,958 equals $0.476 per share.

WALS current share price is $0.43.
As we are aware CLRs data room is open for a takeover.

Please DYOR.